/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
TORONTO, Nov. 18, 2015 /CNW/ - Cymbria Corporation (TSX:
CYB) ("Cymbria") announced today that it is calling a special
meeting ("Meeting") of its holders of Class A shares and Class J
shares (collectively, the "Shares"). The Meeting will be held at
the offices of Stikeman Elliott LLP at 5300 Commerce Court West,
199 Bay Street, Toronto, Ontario
on December 15, 2015 at 10:00 a.m. local time.
At the Meeting, holders ("Shareholders") of the Shares,
voting together as a single class, will be asked to consider the
ordinary resolution approving the proposed transition of
Cymbria from the Canadian
securities regulatory regime for investment funds to the regulatory
regime for reporting issuers that are not investment funds (the
"Proposed Transition").
Reasons for Proposed Transition
The Proposed Transition is a result of new closed-end investment
fund rules introduced by the Canadian Securities Administrators
that will come into force on March 21,
2016. The new rules will restrict closed-end funds, like
Cymbria, from taking an ownership
position of more than 10% in, or exercising control of, the
companies in which they invest.
In the view of Cymbria's
manager, EdgePoint Investment Group Inc. (the "Manager") and
Cymbria's board of directors, the
new rules would compromise Cymbria's ability to continue to fulfill its
investment objective of providing Shareholders with long-term
capital appreciation through an actively managed portfolio
comprised primarily of global equity securities and an investment
in EdgePoint Wealth Management Inc. Cymbria's ability, since the time of its
initial public offering, to make virtually any investment
(regardless of relative or absolute size) that meets its investment
objective is, in the Manager's view, what helps make Cymbria a compelling investment and
distinguishes Cymbria from most
non-redeemable investment funds.
As a result of these developments, the Manager and Cymbria's board of directors have concluded it
is in the best interests of Cymbria and its Shareholders to implement the
Proposed Transition.
The Proposed Transition would result in Cymbria no longer being an investment fund
under applicable securities laws and therefore not subject to the
new investment restrictions applicable to closed-end investment
funds. Shareholders will see no significant change in the way
Cymbria operates after the
Proposed Transition, except for the timing and the manner in which
it reports to shareholders, which will be in compliance with the
rules applicable to non-investment fund reporting issuers. If
approved, the Proposed Transition would take effect on January 1, 2016.
ABOUT CYMBRIA CORPORATION
Cymbria's investment objective
is to provide shareholders with long-term capital appreciation
through an actively managed portfolio comprised primarily of global
equities and an investment in EdgePoint Wealth Management Inc.
Cymbria began trading on the TSX
on November 4, 2008 under the symbol
CYB.
SOURCE Cymbria Corporation
